Canada to see stronger economic growth this year

April 27, 2010

According to a survey released earlier this week by the Department of Finance, Canada will see stronger economic growth this year and lower unemployment rates from 2010 through to 2012, more than previously believed.

Instead of the economy expanding 2.6 per cent that was originally projected in Finance Minister's, Jim Flaherty's most recent budget, it is forecast to expand 3.1 per cent this year.
Forecasts for the next four years are roughly the same as those used in the government's fiscal plan. The Department of Finance now sees growth of 3.1 per cent in 2011 as opposed to 3.2 per cent, and 2.9 per cent in 2012 instead of 3 per cent.

The latest growth forecasts, based on a poll of 15 economists, are similar to those of the IMF, which predicts that Canada will seen an expansion of 3.1 per cent this year, the same as the United States, and the fastest among the Group of Seven. For 2011, the IMF sees a 3.2 per cent growth.

Source: brokernews.ca